Author Topic: Fox Corp. tumbles 6% as President Trump retweets support for rival networks Newsmax and OANN  (Read 347 times)

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Offline mystery-ak

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Fox Corp. tumbles 6% as President Trump retweets support for rival networks Newsmax and OANN
Matthew Fox
Nov. 12, 2020, 08:15 PM

Fox Corp. tumbled as much as 6% on Thursday as President Donald Trump retweeted support for its rival right-leaning news networks Newsmax and OANN.

Trump and his supporters have been irritated by Fox News ever since the network called the state of Arizona for President-elect Joe Biden on the night of the presidential election.

And with a Biden presidency slated for 2021, Trump could have his eyes set on creating his own news network to directly compete with Fox, according to Axios.

"@FoxNews daytime ratings have completely collapsed. Weekend daytime even WORSE. Very sad to watch this happen, but they forgot what made them successful, what got them there..." Trump tweeted on Thursday.

Class A shares of Fox News parent-company Fox Corp. dropped as much as 6% on Thursday as President Donald Trump retweeted support for its rival right-leaning news networks Newsmax and OANN.

Some of Trump's Thursday retweets include: "#FoxNews is dead," "Fox has been completely unfair and untruthful. Moving to Newsmax," and "Newsmax and Oann are great alternatives [to Fox News]."

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https://markets.businessinsider.com/news/stocks/fox-stock-price-president-trump-retweets-support-for-rival-networks-2020-11-1029798530
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Offline IsailedawayfromFR

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This will be certainly reflected by fees paid by advertisers.

Conservative companies will pull the ad revenues from Fox and liberals, well, they already place ads on MSNBC and CNN.

Fox will dry up.
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Offline catfish1957

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Can you imagine Fox revenue status if My Pillow pulled up stakes?  It could happen.
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Offline dfwgator

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DIE FOX DIE!

Offline Hoodat

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This will be certainly reflected by fees paid by advertisers.

Conservative companies will pull the ad revenues from Fox and liberals, well, they already place ads on MSNBC and CNN.

Fox will dry up.

Either way, it is a win-win for the left.  If Fox stays on-air, their viewers get indoctrinated with leftist propaganda.  If they fold, then the left succeeded in destroying Fox.  But the part they don't get is that another will rise to replace it.  For now, that's OAN.  And with a second Trump administration, they may find their seats at White House press briefings get swapped with Fox.  OAN to the front, and Fox to the back row.
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Offline 701Cass

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Can you imagine Fox revenue status if My Pillow pulled up stakes?  It could happen.

I see he's on Newsmax now.

Offline dfwgator

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Either way, it is a win-win for the left.  If Fox stays on-air, their viewers get indoctrinated with leftist propaganda.  If they fold, then the left succeeded in destroying Fox.  But the part they don't get is that another will rise to replace it.  For now, that's OAN.  And with a second Trump administration, they may find their seats at White House press briefings get swapped with Fox.  OAN to the front, and Fox to the back row.

It's important to dump Fox, because that shows that the Republican electorate is not interested in the GOP becoming the "Kinder, Gentler" Bushie Party again.

Offline Victoria33

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